What is the difference between a passbook and a statement savings account?

Our Statement Savings Account pays a higher interest rate than our Passbook Savings Account. Statement Savings also gives you the convenience of a periodic statement and the flexibility of making transfers via the phone or online.

Our Passbook Savings Account offers simplified record keeping, as your passbook account is updated with each transaction made. You are required to bring the Passbook into the branch to make all transactions.